Banque Saudi Fransi announces the Resignation of a Board Member

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Banque Saudi Fransi announces that the Board Member, Mr. Sebastien Abel Raymond PAILHOLE (non-executive) resigned from the Board of Directors on 24/7/2017 since he has been called to other duties within his group.

The Board of Directors has approved his resignation by circulation on 27/7/2017 with effect from 27/7/2017. The nominated Board Member replacing Mr. PAILHOLE will be announced subsequently, upon obtaining the approval of the competent authorities on his appointment.

The Board of Directors of Banque Saudi Fransi extends its appreciation and gratitude to Mr. Sebastien PAILHOLE for his effective role in achieving BSF positive results during his tenure in the Board.